United Asiapac Energy Berhad’s initial public offering (IPO), in conjunction with its planned listing on the ACE Market of Bursa Malaysia Securities, has attracted strong demand from Malaysian investors, with the public portion oversubscribed 21.02 times.
The issuing house for the IPO, said it received 8,800 applications for 605.44 million shares, valued at approximately RM211.9 million, compared with the 27.5 million shares made available to the Malaysian public.
At the issue price of RM0.35 per share, the public issue comprises 139.22 million new ordinary shares.
Of the public allocation, 27.5 million shares were offered to Malaysian investors, while 10 million shares were reserved for eligible directors, employees and persons who have contributed to the success of United Asiapac Energy and its subsidiary.
The remaining 101.72 million shares were offered through private placement to selected investors.
The Bumiputera portion received 5,277 applications for 392.55 million shares, representing an oversubscription rate of 27.55 times.
Meanwhile, the public portion excluding the Bumiputera allocation received 3,523 applications for 212.89 million shares, translating into an oversubscription rate of 14.48 times.
The 10 million shares reserved for eligible persons were fully subscribed, while the placement agent also confirmed that the 101.72 million shares offered through private placement had been fully subscribed.
United Asiapac Energy’s IPO is being undertaken at an issue price of RM0.35 per share, payable in full upon application.
TA Securities Holdings Berhad is the principal adviser, sponsor, underwriter and placement agent for the IPO.
